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How to Cancel Monese Business

Account closure is done entirely through the Monese app. You must withdraw all funds to another bank account and cancel active direct debits before requesting closure - the system blocks closure while funds remain.

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Quick Facts

Cancel online?
Yes
Pause option?
No
Refund policy
Your full balance is returned to you. You must manually transfer it to another account before closure.
After cancellation
Monese retains account records for 6 years under FCA regulations. Request a data export via support@monese.com under GDPR.

Cancellation Steps

Go directly to Monese Business cancellation page

  1. Sign in to the Monese app

    Launch the Monese app or visit app.monese.com and log in with your credentials.

  2. Withdraw all funds to another account

    Go to Cards & Accounts, transfer your full balance via bank transfer, and wait 1-3 business days for settlement.

  3. Cancel all direct debits and standing orders

    Check Payments, cancel each recurring payment, and notify organisations to prevent failed transactions.

  4. Request closure in Settings

    Open Settings, select Close Account, confirm with PIN or biometric, and you will receive an email confirmation within 24 hours.

Tips & Things to Know

  • Withdraw funds 3-5 business days before closure to allow transfer settlement.
  • Download your statements before closing as you cannot access transaction history afterwards.
  • Check for pending card transactions or foreign exchange conversions before requesting closure.

Your Consumer Rights

  • FCA regulated as an electronic money institution under UK financial services law.
  • GDPR data protection rights apply to UK and Ireland customers.

Frequently Asked Questions

Can I close my Monese Business account without penalties?
Yes. You can close at any time with no penalties. You must withdraw all funds and cancel direct debits first.
What happens to my account balance?
Your full balance remains yours. You must manually transfer it to another bank account before requesting closure.
Will I lose my transaction history after closure?
Yes. Download statements before closing or request a data export via support@monese.com. Monese retains records for 6 years for FCA compliance.
How long does closure take?
Closure requests are processed within 24 hours. The full process including fund withdrawal takes 3-5 business days.
Can I reopen my account after closing it?
You can apply to open a new account, but Monese may decline based on your account history. There is no automatic reactivation.

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